2014-02-07 06:50:03 - Rubber Products in Australia: ISIC 251 - a new market research report on companiesandmarkets.com
Australia´s rubber market was valued A$7.1 billion in 2010, after growing by 6% per year on average since 2000. Local producers are increasingly pressured by importers, which accounted for over 60% of total market sales in 2010, up from 56% share in 2000.
The leading 22% share of total import value came from Japan but China is catching up fast, increasing its share from 6% in 2000 to 19% in 2010. China will almost certainly become the leading import source for the industry during the forecast period. Other traditionally significant import partners include the US with 14% import value share in 2010, followed by Thailand with 8% share and South Korea with 6%.
The increasing flow of cheap rubber imports from Asia
was particularly harmful for Australian tyre manufacturers, several of whom had to close over 2000-2010. South Pacific Tyres was the country´s biggest tyre factory at the start of the review period but announced its closure and the loss of 600 jobs at the end of 2008.
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